WASHINGTON, D.C. – House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after Democrats voted to increase the federal debt limit by $2.5 trillion.
“This year alone, outside of annual appropriations bills, House Democrats have passed more than $7.5 trillion in new spending. Democrats should be finding ways to rein in spending and stop the painful rise in consumer prices, but they’re too focused on their partisan agenda. Instead of using the debt limit to curb rampant spending in Washington, Democrats see it as a tool to enact more spending, as government-fueled inflation reaches a forty-year high.
“Their Biden Bailout Bill wasn’t paid for. The infrastructure bill was hundreds of billions short of being paid for. And on Friday, the Congressional Budget Office confirmed that the Democrats’ current socialist spending reconciliation bill will cost $5 trillion and add $3 trillion to the debt. The fact is the Democrats’ agenda is only possible through a massive increase to our debt limit. They may have the votes to do it, but Republicans will not go along with a plan that bankrupts our economy, benefits the wealthy, and builds the Washington machine.”